PairShare:WirelesslyShareMusicOverBluetooth

PairShare is a relatively new iOS app that allows users to wirelessly share music over Bluetooth. Currently, the app is available to download for free - however, a recurring pop up means users are going to want to pay $2.99 via an in app purchase to disable the message, if they want to actually use the app.
As outlined by the application's developer (PairShare, LLC) in the app's release notes, main features include:

Share your music or listen to your friend's music wirelessly

Connect over Bluetooth

Select a music ShareList for your friend to hear

Auto-play once connected

View friend's album art, song title, album and artist

Auto-scan to connect with nearby friends

If you want to take advantage of PairShare, both parties need to have the app installed. As noted, a recurring pop up message (which appears on screen every few seconds) essentially forces users to pay $2.99 for the app via an in app purchase.
Recently, we told you about a similar iOS app, called Eavesdrop. It works over Bluetooth and Wi-Fi, and is currently available for $1.99 (30 percent off its usual price).
If you're familiar with both apps, let us know which you prefer in the comments.